Carnegie Mellon University

Tracking Organization Finances

Each organization is recommended to keep track of all expenditures, reimbursements, and revenue (dues, fundraising, ticket sales, etc.) no matter what account and how the organization is funded.

There are several types of accounts that organizations can manage depending on their status within the University, type of allocation, donation, or sponsorship.

Account Types

Student Organization Oracle Accounts

Each student organization has a unique university account referred to as an Oracle account. This is not a bank account, but a part of the university’s financial system. Therefore all payments made from these Oracle accounts come from the university and all checks for deposit must be made out to Carnegie Mellon University.

All organizations that receive monies (JFC-allocated, special allocation, departmental funds, corporate sponsorships, etc.) must access those funds through the Oracle account. Oracle accounts offer organizations the following benefits:

Tax-exempt status for purchases made directly from your Oracle account.

  • Ease of purchasing goods and services from campus vendors (Computer Store, Catering, Bookstore, Printing and Mailing, etc.).
  • Ability to pay/receive money from other student organizations or university departments.
  • Historical record-keeping of purchases and deposits.
  • Security of funds.

Gift Account

In addition to a student srganization Oracle account, each organization has a Gift account in which the organization may receive donations from outside donors. Donations can be made through the university’s on-line donation website, Giving to CMU, or by depositing donations directly into the Gift account through the SLICE Office and the deposit process.

Sponsorship Account

Organizations are able to solicit funds to support their events and initiatives from corporations. Depending on the type/level of sponsorship or how the corporation benefits from the sponsorship will determine whether the money is desposited into the Sponsorship or Gift Account.

Outside Bank Account

To protect the interests of student organizations and the university, no student government recognized student organization is permitted to hold an off-campus bank account or an organizational Paypal or Venmo account. Also, students are not allowed to use any application that requires money to be processed through a bank account.

As they maintain external recognition through the U.S. Internal Revenue Service Greek chapters are considered exempt from this policy.

Accessing Your Finance Transactions on The Bridge

Each organization has a Finance Accounts page on their organization Bridgepage. It shows your balance and all your financial transactions for each account.

  • The Bridge Accounts page will be updated approximately 3 times a month and Authorized Signer will receive an email notification from The Bridge.
  • The Authorized Signer should review the transactions and compare to his/her own records. For questions about a particular transaction, e-mail the Senior Financial Administrator .
Managing Your Budget
  • The Authorized Signer should be keeping track of actual vs budgeted expenses and revenue. Using an excel spreadsheet is a helpful tool in tracking financial transactions. Here is an example of a tracking spreadsheet.
  • It is important for the Authorized Signer and Program Planner to work together on event spending and revenue needed in order to stay within budget and spend according to the JFC line items allocated.
  • While it’s normal for your budget to change and shift throughout the year, the Authorized Signeryou will have to adjust to cover additional costs or resolve a deficit. Please contact the SBVPF if line items need to be changed.